IDFC First Bank’s Sees Marginal Credit Growth In December Quarter
Pedestrians wearing protective masks walk past an IDFC First Bank Ltd. branch on a near-empty street in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

IDFC First Bank’s Sees Marginal Credit Growth In December Quarter

Bookmark

IDFC First Bank on Wednesday said the credit growth rose a marginal 0.7% to Rs 1.10 lakh crore during the third quarter ended December.

The private sector lender had outstanding loans of Rs 1.09 lakh crore as of Dec. 31, 2019, and on a quarterly basis, the loan growth was 3% higher from Rs 1.06 lakh crore as on Sept. 30, 2020, IDFC First Bank said in a regulatory filing.

Retail funded assets increased to Rs 66,635 crore at the end of the third quarter of the current financial year, from Rs 53,685 crore as on Dec. 31, 2019, an increase of 24.1%, it said.

At the same time, the bank's customer deposits increased 41% to Rs 77,289 crore as compared with Rs 54,631 crore on Dec. 31, 2019.

During the quarter, the bank’s CASA (current account savings account) ratio rose to around 44.6%, compared with 20.9% as of Dec. 31, 2019.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.